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Senior execs are young, work 10 hours a day
By Alfons Chan (China Daily)
Updated: 2004-11-19 08:53
A typical senior business executive on the mainland is young, highly educated
and works 10 hours a day, according to a recent survey.
The survey, conducted by marketing company CTR Market Research, polled 2,600
high-ranking executives in Beijing, Shanghai, Guangzhou and Shenzhen.
Each of the polled executives manages companies with an annual budget
averaging 2 million yuan (US$240,000) and a staff size of more than 50.
They earn about 79,000 yuan (US$9,500) a year on average and are among the
top management of their companies and organizations.
"Business executives on China's mainland are distinctly different from the
rest of the population. Representing less than 1 per cent of the populace, they
are a significant group of decision-makers with the power to influence the
masses in their business-purchase decisions, personal consumption behaviour, and
lifestyle choices," Shen Ying, director of media and brand at CTR, said at a
press conference in Hong Kong yesterday.
The findings of the survey indicate that two-thirds (67.1 per cent) of the
respondents are male. While nearly nine in 10 (87.9 per cent) are aged between
24 and 55, a third of them (34.4 per cent) are in the 24-35 age group.
"I believe senior business executives, most of whom are young, ambitious and
well-educated, are becoming a new elite class of professionals in the society,
comparable to the 'yuppies' in the West," she told China Daily.
The mainland business executives are consciously seeking to be leaders, and
the masses are likely to follow their consumption and lifestyle choices, she
said.
"This segment of the population has certain very recognizable traits. They
are image- and fashion-conscious, lead healthy lifestyles and have positive work
attitudes."
Shen said senior executives in the mainland tend to adopt a more balanced
lifestyle when compared to their counterparts in the West.
"Mainland business executive tend to embrace traditional family values and
take on more responsibility in the business sector, social circles and within
the family. They are a group that will contribute to political stability in
China."
Survey results show that 79 per cent of the respondents are married, 20 per
cent single and less than 1 per cent divorced.
Findings also suggest that executives in China are success-driven, with half
admitting that they would sacrifice time with family for career success, while
three in four said a man's greatest value lies in his work.
In terms of lifestyle choices, business executives are connoisseurs of luxury
goods and loyal to brands.
"According to our survey, two in five (39.48 per cent) own a car, and a
majority of the executives have purchased luxury watches, imported wines and
perfumes in the past year," Shen said.
The study's findings will help marketing teams of luxury brands, advertising
agencies and media operators develop fact-based marketing and advertising
strategies, Shen said.
"This survey is like a mirror, reflecting the changes in the society brought
about by the development of an up-market consumer segment of the population,
which will increasingly dictate market behaviour on the mainland."
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